Reference no: EM132772821
Question - Atkinsons, Inc. acquires all of the outstanding stock of Tedy Corporation on January 1, 2019. At the date, Tedy owns only three assets and has no liabilities:
|
|
Book Value
|
Fair Value
|
|
Inventory
|
P40,000
|
P50,000
|
|
Equipment (10-year life)
|
80,000
|
75,000
|
|
Building (20-year life)
|
200,000
|
300,000
|
1. If Atkinsons pays P450,000 in cash for Tedy, what amount would be presented as the subsidiary's Building in a consolidation at December 31, 2021, assuming the book value at that date is still P200,000?
2. If Atkinsons pays P400,000 in cash for Tedy, what amount would be presented as the subsidiary's Building in a consolidation at December 31, 2021, assuming the book value at that date is still P200,000?
3. If Atkinsons pays P450,000 in cash for Tedy, what amount would be presented as the subsidiary's Equipment in a consolidation at December 31, 2021, assuming the book value at that date is still P80,000?
4. If Atkinsons pays P450,000 in cash for Tedy, what allocation should be assigned to the subsidiary's Equipment in preparing for consolidation at December 31, 2021, assuming the book value at that date is still P80,000?
|
Prepare Butter journal entry
: Butter Corporation issued 3,000 shares of P10 par value common stock for P45, 000. Prepare Butter's journal entry
|
|
What are the basic benefits for company to develop pro forma
: What are the basic benefits and purposes for a company to develop pro forma statements and a cash budget? What key factors go into developing
|
|
The full-time employees can begin work
: The full-time employees can begin work at the beginning of the 7. A.M. to 9 A.M. shift, 9 A.M. to 11 A.M. shift, 11 A.M. to 1 P.M. shift,
|
|
How can fix the current financial decisions
: You have invested $6,000 in plant improvements, How can you fix the current financial decisions so that you have a healthy cash position at the end of the year?
|
|
What amount would be presented as the subsidiary Building
: If Atkinsons pays P450,000 in cash for Tedy, what amount would be presented as the subsidiary's Building in a consolidation at December 31, 2021
|
|
What specific resources would you suggest for use in program
: What specific resources would you suggest for use in your program? For example, what staffing and equipment suggestions would you make?
|
|
Record the appropriate journal entries for wright co
: Wright Co. accounts for its treasury stock transactions using the cost method. For the situations below, record the appropriate journal entries.
|
|
Tata combined product and geographic diversification
: Research the development of the Tata Group and its major global subsidiaries. How has Tata combined product and geographic diversification?
|
|
How much is the present value of the note on January
: Oust the Turtle Company received a non-interest-bearing note for P400,000. How much is the present value of the note on January 1, 2020
|